Providential Holdings Selected to Develop Luxury Gaming Operations and International University in Vietnam

LOS ANGELES, CA and QUANG NAM, VIETNAM--(Marketwire - August 6, 2007) - Providential Holdings, Inc. (OTCBB: PRVH) (German Stock Exchanges: PR7, WKN 935160), a company investing in the rapidly growing economies in Vietnam and Asia, announced today an agreement with the Authority of Chu Lai Open Economic Zone to develop an investment plan for luxury gaming operations and an international university in Quang Nam Province, central Vietnam.

The People's Committee of Quang Nam Province has selected Providential as the sole entity to study and develop a luxury integrated resort in Tam Hai, a 1,600-acre island designated for special tourism, which will include world-class casino operations, deluxe hotels, restaurants, designer shops, health clubs, spa, entertainment, business amenities, convention and exhibition facilities, and more. The company also plans to build an international university in Tam Phu, near Tam Ky City, on a 690-acre lot allocated for the educational campus.

These projects are contingent upon approval of the plans and investment policy as well as the required licensing by Quang Nam Province and the appropriate authorities of the Vietnamese central government. Providential will work closely with a co-investor or a joint-venture partner to satisfy the requirements of the Vietnamese authorities in order to obtain the investment licenses for these projects.

Chairman and CEO of Providential Holdings Henry Fahman said, "This is a unique opportunity for Providential to develop luxury gaming and integrated hospitality operations in the fast-growing economy of Vietnam. The recent successes of Wynn Macau and Sands Macau (, the $3.6 billion Marina Bay Casino project by Las Vegas Sands and the $3.4 billion Sentosa Resorts World by Genting International in Singapore are all excellent indicators of the viability and potential of the Asian gaming market. It was just more than a year ago that Singapore lifted a 40-year ban on casinos as part of an effort to bolster tourism as more manufacturing jobs shift to countries with lower labor costs. As stated by U.S. casino tycoon Sheldon Adelson, backed by growing economic affluence, Asia has room for eight to 10 Las Vegas-style strips offering gaming and entertainment facilities."

Fahman added, "At the same time, we also take other long-term development needs of Vietnam to heart, such as education, health care and job creation. Through the university we will provide world-class training for business administration, hospitality, public administration, engineering, pharmacy, medicine and other social sciences."

About Providential Holdings, Inc.

Providential Holdings and its subsidiaries engage in a number of diverse business activities, the most important of which are M&A advisory services and investments in the rapidly growing economies in Vietnam and Asia. For more information on Providential Holdings and its subsidiaries, visit As part of its activities in Vietnam, Providential has been hosting seminars in conjunction with the Nasdaq Stock Market, the Vietnamese Chamber of Commerce and Industry and a leading U.S. investment banking firm, to help Vietnamese companies go public and raise capital through the U.S. financial markets.

A profile for investors can be accessed at

For investor relations questions regarding Providential, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail:, or visit or To sign up for free e-mail notification of future releases, visit

Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.

Contact Information: Investor Relations Contact: Hawk Associates, Inc. Frank N. Hawkins, Jr. or Julie Marshall Phone: (305) 451-1888 Email: Providential Holdings, Inc. 17011 Beach Boulevard, Suite 1230 Huntington Beach, CA 92647 Telephone: (714) 843-5455 Fax: (714) 843-5455